Wednesday, January 28, 2015

Gold Is on the Verge of a Major "Buy" Signal

Gold has been on fire.
 
Over just the past four weeks, the price of gold is up $110 per ounce. That's a gain of almost 10%. It's one of the best monthly performances for the metal since the price peaked back in 2011.
 
If gold can hang onto these gains over the next week, we'll have the first long-term buy signal for the metal since mid-2009. And it could lead to big gains in the price of gold...
 
Take a look at this long-term monthly chart of gold with its Moving Average Convergence Divergence (MACD) momentum indicator... 
 
 
The MACD indicator is often used for determining overbought and oversold conditions. But it can be used as a long-term timing indicator, too.  (more)
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